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Management accountants aid managerial planning and commercial decision-making tasks by providing appropriate financial information and undertaking related accounts administration.
Management accountants look after a company’s accounts. They advise managers about the financial implications of business decisions to aid growth and profit.
Responsibilities of the job include:
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preparing reports, budgets, commentaries and financial statements
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undertaking financial administration and internal audits
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liaising with managerial staff and other colleagues
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supervising a team of accounting technicians
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developing and managing financial systems/policies
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negotiating and obtaining finance for major projects
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controlling and forecasting income and expenditure
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creating business strategies to generate shareholder value.
Opportunities to work overseas may be offered by some employers. With experience (at least five years), management accountants can work their way up to senior roles such as financial controller, finance director, or the CFO of a company.
Qualifications and training required
There are routes into a career in management accounting for both university graduates and school leavers. For graduates, any degree is accepted, although qualifications in accountancy or mathematical, management or business subjects are very useful because these will allow you exemptions from some of the exams needed to become professionally qualified
Key skills for management accountants
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Good oral and written communication skills
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The ability to work as part of a team
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Excellent analytical and numerical abilities
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Sound business knowledge
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Accuracy and an eye for detail.
Typical employers of management accountants
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Any public and private sector organisations with an accounting or financial department, such as health services, retail and transport
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Financial institutions.
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